To me, this is an easy non-renewal.

Consult a tax professional to optimize deductions and explore strategies like Real Estate Professional Status or short-term rental loopholes to apply depreciation to non-passive income.This post does not create a CPA-Client relationship.

Whether you’re dealing with non-payment of rent or other lease violations, this resource explains what landlords need to know to remain compliant and protect their investment. 

Recourse or non-recourse?  

Partner with a real estate marketing company out of Las Vegas or Provo, Utah to market, promote and advertise the “mentorship” system consisting of the free seminar, followed by the modest fee weekend workshop, followed by the $15,000 - $40 000 full mentorship program.Here are the usual results1- 99% of “students” never earn back the cost, despite 1000s of wasted hours2- students learn nothing of real estate principles, real estate finance and real estate law which are the necessary foundation blocks of knowledge necessary for a SUSTAINABLE career in real estate investment 3- with hundreds or thousands of “students” unleashed on the real estate selling public they’re AT BEST an annoyance of trying to do “unrealistic” deals, AT WORST lead to a disastrous result for vulnerable homeowners.4 - The career real estate investors, service providers, brokers, lenders, etc are so disgusted with all of it and the outcomes they see that that can’t even comprehend that the subject technique or strategy does have a legitimate use when utilized (1) by and experienced and well capitalized buyer and (2) full disclosure is provided all parties with legal representation.  

As for starting a business, are you looking to start a "real estate" business or "non-real estate" business?

Some lawyers will file ejectment lawsuits and ask for service by publication, but that is not allowed under the rules.

and the property had a private dwelling value appraisal much higher than the public property appraiser claims. 

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It sounds like NYC’s eviction process is notoriously difficult, and carrying a large mortgage while dealing with non-paying tenants is draining both financially and emotionally.